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Peter Drucker Quotes about Innovation

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Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.

Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.

Two, Innovation, Marketing

"Management".

Knowledge is the source of Wealth. Applied to tasks we already know, it becomes Productivity. Applied to tasks that are new, it becomes Innovation.

Knowledge, Innovation, Tasks

Marketing and innovation make money. Everything else is a cost.

Innovation, Marketing, Cost

There are only two things in a business that make money - innovation and marketing, everything else is cost.

Two, Innovation, Marketing

The enterprise that does not innovate ages and declines. And in a period of rapid change such as the present, the decline will be fast.

Innovation, Growth, Age

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.183, Routledge

Innovation opportunities do not come with the tempest but with the rustling of the breeze.

Opportunity, Innovation, Tempest

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.271, Routledge

Making changes to better appeal to customer is INNOVATION.

Innovation, Making Changes, Appeals

Marketing and innovation produce results; all the rest are costs.

Innovation, Marketing, Cost

Peter Drucker (2013). “People and Performance”, p.90, Routledge

Effective innovations start small. They are not grandiose. They try to do one specific thing.

Innovation, Trying, Grandiose

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.154, Routledge

Above all, innovation is not invention. It is a term of economics rather than of technology.

Technology, Innovation, Economics

Peter Drucker (2013). “People and Performance”, p.92, Routledge

There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.

Innovation, Three, Able

Source: www.inc.com

Providing more desirable products, services, and customer experiences is vital to the continued existence of any business. And that is INNOVATION.

Innovation, Existence, Customer Experience

No other area offers richer opportunities for successful innovation than the unexpected success.

Success, Opportunity, Innovation

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.53, Routledge

It is commonly believed that innovations create changes - but few ever do. Successful innovations exploit changes that have already happened.

Successful, Innovation, Happened

Thus, for those who are willing to go out into the field, to look and to listen, changing demographics is both a highly productive and a highly dependable innovation opportunity.

Opportunity, Innovation, Listening

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.120, Routledge

An established company which, in an age demanding innovation, is not able to innovation, is doomed to decline and extinction.

Creativity, Innovation, Age

Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.

Top Management, Challenges, Innovation

Peter Drucker (2013). “People and Performance”, p.149, Routledge

What we need is an entrepreneurial society in which innovation and entrepreneurship are normal, steady and continuous.

Entrepreneur, Innovation, Society

Peter Drucker (2014). “Innovation and Entrepreneurship”, p.313, Routledge

Whenever anything is being accomplished, it is being done, I have learned, by a monomaniac with a mission.

Innovation, Vision, Done

Peter F. Drucker (1999). “Adventures of a Bystander”, p.255, Transaction Publishers

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